I.T.O gaining jurisdiction and passing penalty orders.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ve to say that the Board's decision against reference was because of small revenue effect. However, in principle the Tribunal's decision is not acceptable. The Board's stand on the subject stands detailed in circulars No.58/2/63-IT(Inv) dated 9-11-64 and No.3/40/68-IT(Inv) Instruction No.53 dated 27-5-69. The Board have again been advised by Ministry of Law that where a case for penalty u/s.271(1) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... te orders, fell below the minimum limit prescribed for the Inspecting Assistant Commissioner., proceeded to observe - "It will however be open to the ITO to pass appropriate orders in case the assessee's guilt is found to be covered by the provisions of Sec.271(1)(c)". As the Board does not accept the position of the I.T.O gaining jurisdiction and passing penalty orders, does not arise.
Circul .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X